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IAT Reinsurance Portfolio holdings

AUM $310M
1-Year Est. Return 13.37%
This Fund
S&P 500
This Quarter Est. Return
+3.71%
1 Year Est. Return
+13.37%
3 Year Est. Return
+22.45%
5 Year Est. Return
+25.65%
10 Year Est. Return
+209.01%
AUM
$341M
AUM Growth
-$133M
Cap. Flow
-$138M
Cap. Flow %
-40.3%
Top 10 Hldgs %
67.74%
Holding
88
New
3
Increased
3
Reduced
5
Closed
17

Top Buys

Rank Stock Value
1
XELLL
Xcel Energy Inc 6.25% Junior Subordinated Notes Series due 2085
XELLL
+$2M
2
TCPA
TransCanada PipeLines Limited 6.250% Junior Subordinated Notes due 2085
TCPA
+$1.96M
3
MERC icon
Mercer International
MERC
+$1.1M
4
ACGLN icon
Arch Capital Group Series G Preferred Stock
ACGLN
+$696K
5
WTFCN
Wintrust Financial Corp 7.875% Preferred Stock
WTFCN
+$527K

Top Sells

Rank Stock Value
1
RJF icon
Raymond James Financial
RJF
+$51.5M
2
GS icon
Goldman Sachs
GS
+$44.2M
3
SIGI icon
Selective Insurance
SIGI
+$16.2M
4
EMR icon
Emerson Electric
EMR
+$10.5M
5
TVE
Tennessee Valley Authority Power Bonds 1999 Series A due May 1 2029
TVE
+$6.28M

Sector Composition

Rank Sector Weight
1 Financials 16.07%
2 Technology 12.41%
3 Materials 9.99%
4 Healthcare 9.12%
5 Real Estate 7.3%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
PSEC.PRA icon
51
Prospect Capital Corp 5.35% Series A Preferred Stock
PSEC.PRA
$87.2M
$496K 0.15%
30,000
-20,000
-40% -$336K
SCE.PRN
52
SCE Trust VIII 6.95% Trust Preference Securities
SCE.PRN
$323M
$482K 0.14%
20,000
– –
ABBV icon
53
AbbVie
ABBV
$433B
$445K 0.13%
1,948
– –
RCD
54
Ready Capital Corp 9.00% Senior Notes due 2029
RCD
$119M
$416K 0.12%
20,000
– –
GEHC icon
55
GE HealthCare
GEHC
$31.5B
$413K 0.12%
5,040
– –
SLMBP
56
SLM Corp Series B
SLMBP
$188M
$327K 0.1%
4,500
– –
PRHI
57
Presurance Holdings
PRHI
$19.4M
$178K 0.05%
35,714
– –
LTSL
58
DELISTED
Ladenburg Thalmann Financial Services Inc. 6.50% Senior Notes due 2027
LTSL
$113K 0.03%
5,000
– –
OPINL
59
DELISTED
Office Properties Income Trust 6.375% Senior Notes due 2050
OPINL
$74.8K 0.02%
40,000
– –
CBL
60
CBL Properties
CBL
$1.77B
$24.3K 0.01%
658
– –
ADNT icon
61
Adient
ADNT
$1.58B
$22.9K 0.01%
1,193
– –
KALU icon
62
Kaiser Aluminum
KALU
$2.93B
$8.04K ﹤0.01%
70
– –
DVR
63
DELISTED
CAL DIVE INTERNATIONAL INC COM
DVR
$50 ﹤0.01%
500,000
– –
BP icon
64
BP
BP
$107B
– –
-15,000
Closed -$517K
CHN
65
DELISTED
China Fund
CHN
– –
-68,399
Closed -$1.26M
CVX icon
66
Chevron
CVX
$373B
– –
-16,000
Closed -$2.48M
DNOW icon
67
DNOW Inc
DNOW
$2.6B
– –
-1,100
Closed -$16.8K
EMBC icon
68
Embecta
EMBC
$211M
– –
-4,000
Closed -$56.4K
EMR icon
69
Emerson Electric
EMR
$91.3B
– –
-80,000
Closed -$10.5M
IBM icon
70
IBM
IBM
$224B
– –
-1,500
Closed -$423K
KD icon
71
Kyndryl
KD
$3.04B
– –
-300
Closed -$9.01K
MCD icon
72
McDonald's
MCD
$194B
– –
-6,250
Closed -$1.9M
NNN icon
73
NNN REIT
NNN
$8.95B
– –
-13,000
Closed -$553K
OGN icon
74
Organon & Co
OGN
$3.56B
– –
-3,000
Closed -$32K
RJF icon
75
Raymond James Financial
RJF
$34.7B
– –
-298,125
Closed -$51.5M
1 2
3
4

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PH
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IPW
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CCG
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TL
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FI
Financial Insights Tacoma, Washington $309M AUM 17.27% 1-Year Est. Return
BBWA
Bell & Brown Wealth Advisors Newport Beach, California $308M AUM 36.32% 1-Year Est. Return
EWM
Elite Wealth Management Kirkland, Washington $308M AUM 30.88% 1-Year Est. Return

IAT Reinsurance's Q4 2025 Portfolio in Review

As of Q4 2025, IAT Reinsurance held 88 positions worth $341M, down 28% from $475M the previous quarter. Its ten largest holdings account for 68% of the portfolio.

IAT Reinsurance withdrew a net $138M in Q4 2025, closing 17 positions and reducing 5 holdings. Its most notable exit was Raymond James Financial, an estimated $51.5M position sold in full.

By sector, the portfolio is most concentrated in Financials at 16% of assets, down from 33% a quarter earlier, followed by Technology and Materials.

Against the trend, IAT Reinsurance opened a new position in Xcel Energy Inc 6.25% Junior Subordinated Notes Series due 2085 worth $2M.

  • IAT Reinsurance's largest Q4 2025 buy was Xcel Energy Inc 6.25% Junior Subordinated Notes Series due 2085: 80,000 shares worth $2M.
  • IAT Reinsurance added most to Mercer International in Q4 2025, an estimated $1.1M increase.
  • IAT Reinsurance's biggest Q4 2025 reduction was Goldman Sachs, cutting an estimated $44.2M.
  • IAT Reinsurance fully exited Raymond James Financial in Q4 2025, selling an estimated $51.5M.
  • IAT Reinsurance's ten largest holdings make up 68% of its $341M portfolio in Q4 2025.
  • IAT Reinsurance opened 3 new positions and closed 17 in Q4 2025.
  • IAT Reinsurance's portfolio value fell 28% quarter-over-quarter to $341M.

Based on IAT Reinsurance's 13F filing for Q4 2025, filed 10 Feb 2026.